Fifth Third Bancorp Purchases 5,125 Shares of Newmont Co. (NYSE:NEM)

Fifth Third Bancorp grew its position in shares of Newmont Co. (NYSE:NEMFree Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,517 shares of the basic materials company’s stock after purchasing an additional 5,125 shares during the quarter. Fifth Third Bancorp’s holdings in Newmont were worth $2,670,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in shares of Newmont by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 278 shares in the last quarter. S.A. Mason LLC increased its stake in Newmont by 15.1% during the 3rd quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 285 shares in the last quarter. Grey Street Capital LLC increased its stake in Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after purchasing an additional 289 shares in the last quarter. Reitz Capital Advisors LLC increased its stake in Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares in the last quarter. Finally, Antonetti Capital Management LLC increased its stake in Newmont by 30.0% during the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NEM shares. UBS Group cut their price objective on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, December 13th. Scotiabank cut their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Royal Bank of Canada cut their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Finally, BMO Capital Markets cut their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.97.

View Our Latest Research Report on Newmont

Newmont Trading Up 1.0 %

Shares of Newmont stock opened at $36.79 on Wednesday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $52.76. The stock’s 50-day simple moving average is $33.60 and its 200 day simple moving average is $36.86. The stock has a market capitalization of $42.41 billion, a P/E ratio of -15.46, a P/E/G ratio of 3.06 and a beta of 0.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25.

Newmont (NYSE:NEMGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. As a group, research analysts anticipate that Newmont Co. will post 1.88 EPS for the current year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is currently -42.02%.

Newmont Company Profile

(Free Report)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

Further Reading

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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